10 Facts About Dhirubhai Ambani On His Birthday
Dhirajlal Hirachand Ambani (December 28th, 1932 – July 6th, 2002) was born in a Modh family in Gujarat. His father, Hirachand Gordhandhas Ambani was a school teacher. Dhirajlal Hirachand ‘Dhirubhai’ Ambani was an Indian business tycoon who founded Reliance Industries in Bombay with his cousin. He had been figured in the The Sunday Times top 50 businessmen in Asia.
Ambani took Reliance Industries public in 1977 and by 2007 the combined fortune of the family was $60 billion making the Ambanis the third richest family in the world. Dhirubhai Ambani is an example of one of the greatest Indian entrepreneurs, who were responsible for a “New & Changed India.’ Here are some points about Late Dhirubhai Ambani.
1. He first started selling bhajias to pilgrims
Dhirubhai (as he came to be known) first ventured into entrepreneurial territory by selling bhajias to pilgrims at Mount Girnar.
2. Moved to Yemen at age of 16!
Dhirubhhai completed his matriculation at 16 and moved to Aden, Yemen where he got work as a gas-station attendant for A. Besse & Co. for a salary of Rs. 300/- monthly.
3. He came to Mumbai in 1958 to start his own business
In 1958, he returned to India with Rs. 50,000/- and set up a textile trading company, Majin, along with his cousin, Champaklal Damani.
4. First Reliance office was just a room
Reliance Commercial Corporation was set up in Narsinatha Street in Masjid Bunder in a 33 sq. m room that had one table, three chairs and a land-line phone. Dhirubhai moved to an apartment in Altamount Road in South Mumbai and by the late 1970s his net worth stood at around Rs. 10 lakhs.
5. First textile mill
In 1977, Dhirubhai started his first textile mill in Naroda, Ahemdabad. His brand ‘Vimal’ was named after his nephew, Vimal Ambani.
6. First private company to have annual meeting at a stadium
Reliance Industries became the first private sector company to hold its annual meetings inside stadiums. This was because Dhirubhai managed to convince many rural Gujaratis to become shareholders. In 1986 about 350,000 shareholders attended the Annual General Meeting held in Cross Maidan in Mumbai.
7. He won several accolades and titles in his life
8. High tax revenue to Government
He established Reliance Industries in 1966. Today the company consists of more than 85,000 employees and is the provider of approximately 5% of India’s Central Government’s total tax revenue.
9. Diversified his business to great extent
He diversified his business to include petrochemicals, information technology, telecommunications, power, energy, capital markets, infrastructure services, retail, logistics and textiles. He developed the brand Vimal which is now a household name in India.
10. Became the first to take his company international
It was the first company in India that raised money in international markets and the first to be listed in the Forbes 500 list.
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